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Precious Metals
#Gold Prices are Holding Above the $1,660 Level
European Shares Share markets fluctuated in Europe on Monday, following the mixed trading session registered overnight in Asia, as traders start their…
The bearish sentiment remains towards riskier assets as #investors are weighed down by lingering #inflation fears and tightening monetary conditions ahead of another busy week on the macro front. However, today’s volatility seems to be mostly due to the prospect of a record oil output cut from OPEC+ countries this week, with indication that more than 1 million barrels a day could be slashed. This news is already boosting oil prices as well as oil-related shares, preventing stock indices from registering new lows following last week’s sell-off extension.
That said, investors remain very cautious with equities so far, especially ahead of another batch of major macro news this week (PMIs, PPIs, OPEC meeting, speeches from Central banks’ officials and US NFP) while corporates earnings loom next week.
The DAX-40 index still trades inside its bearish mid-term channel, while the RSI doesn’t show any early signs of a bullish break-out to come and the DMI indicates an environment still under bearish pressure.
Pierre Veyret– Technical analyst, ActivTrades
The post Daily market commentary: Gold prices are holding above the $1,660 level appeared first on LeapRate.
PBoC In A Hurry To Buy Gold: Covertly Bought 593 Tonnes Of Gold YTD
PBoC In A Hurry To Buy Gold: Covertly Bought 593 Tonnes Of Gold YTD
By Jan Nieuwenhuijs of Gainesville Coins
The PBoC is in a hurry to buy…
Last Weeks Resource Stock Recap: Is it our turn yet? And Hercules……….
‘That’s a Wrap’ By Rod Blake Following last week’s plus 5% gains on the four…
Central Bank Gold Buying Continued Unabated In September
Central Bank Gold Buying Continued Unabated In September
Via SchiffGold.com,
Central banks continued to gobble up gold…
Reported central…
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